Lincoln named best city for renters

LINCOLN, Neb. (KOLN) – Mayor Leirion Gaylor Baird announced that Forbes named Lincoln the best city in the nation for renters on Wednesday.

According to Forbes, 68% of renters have a household salary of $50,000 and 49% of renters rent because they can’t afford to buy.

Data shows that Lincoln is not just the only Nebraska city that was ranked, but Omaha was put at second best for renters.

“Lincoln’s top ranking as the best city for renters reinforces our community’s status as the quality-of-life capital of the country. We are proud to offer a welcoming environment where everyone can thrive, thanks to affordable rent prices, a strong job market, and safe neighborhoods,” Mayor Gaylor Baird said.

According to Forbes, Lincoln ranked in the top 10 in the following metrics:

• 5th best for median monthly rent price at $1,225, compared to the study average of $1,995.
• 10th best for rent as a percentage of income at 17.6%, compared to the study average of 21.3%.
• 4th best for the number of available rentals per 100,000 households with 394, compared to the study average of 164.
• 9th best for the average monthly price per sq. ft. at $1.33 (a tie with Winston-Salem), compared to the study average of $2.09.
• 4th best for its 2.6% unemployment rate, compared to the study average of 4.1%.

“Lincoln, Nebraska ranked as the best city for renters in Forbes Advisor’s report due in part to its below-average median rent prices and above-average availability of rentals,” Forbes Advisor Renters Insurance Lead Editor Jason Metz said. “Lincoln also has an affordable rent-to-income ratio (17.6%) and a very low unemployment rate (2.6%). Additionally, the city ranked well in our violent crime metric. Lincoln exemplifies an affordable and safe community for price-conscious renters while having plenty of available rentals to choose from.”

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